Dan Loeb’s Fund Praises Shell’s ‘Ruthless’ New Leadership Team
Activist investor Dan Loeb’s fund praised Shell Plc’s new management team for prioritizing investor returns and cutting costs.
Bloomberg Business
Caterpillar Says China Demand Slowdown Even Worse Than Thought
Caterpillar Inc. added further confirmation to China’s downtrodden economic outlook, saying sales of its key machines used on construction sites across the world’s second-largest economy is even worse than the company forecast about three months ago.
Luxury Hotels Up for Sale as Landlord Faces Tax Debt
A UK hotel group is looking to sell a pair of luxury London hotels, as a related company faces a winding-up petition from UK tax authorities.
Ratings Firms Struggle With Climate Risk in $133 Trillion Market
Global warming is poised to increase borrowing costs for cities, countries and companies as record heat waves emerge worldwide.
US Manufacturing Activity Contracts for a Ninth-Straight Month
US factory activity contracted in July for a ninth-straight month, reflecting tepid demand for American merchandise at home and abroad.
Occidental, Adnoc Agree to Review Carbon Capture Investments
Occidental Petroleum Corp. has agreed to partner with the top oil producer in the United Arab Emirates to explore investment in the US and overseas for giant plants that suck carbon dioxide out of the sky.
AngloGold Flags First-Half Earnings Drop of as Much as 92%
AngloGold Ashanti Ltd. expects its earnings for the first half of 2023 to be as much as 92% lower due to impairments at its Brazilian operations.
Tesla Faces Steering Probe as US Regulators Examine Complaints
Tesla Inc. is the subject of another probe by US regulators, this time focusing on driver complaints about vehicles possibly at risk of losing control of steering.
The Average Workday Just Got Half an Hour Shorter
Time spent laboring decreased by 37 minutes in the past year, but productivity levels have remained constant.
Tencent Becomes Market Laggard as China Traders Sell
Tencent Holdings Ltd. has fallen out of favor with mainland Chinese investors burned by volatility and sentiment-driven trading. Getting them back on side may prove elusive.
